Ziglu, a British cryptocurrency enterprise, is exploring a cut-price sale practically a yr after agreeing an finally aborted takeover by Robinhood, the American fintech big.
Sky News has learnt that Ziglu, which provides crypto buying and selling to hundreds of shoppers, is within the strategy of hiring funding bankers to supervise a sale.
City sources stated the corporate was making an attempt to lift capital to provide it enough funding to proceed working till a sale might be agreed.
One insider stated Ziglu was in search of £2m at a valuation of roughly £10m, underlining the robust buying and selling setting during which the corporate now operates.
It just lately instructed buyers it deliberate to droop some companies with a purpose to cut back prices, together with a choice to not tackle new prospects for a number of months.
Ziglu is already understood to have kicked off talks with various events thinking about buying it.
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Last yr, Ziglu was getting ready to a $170m takeover by Robinhood, the US-based share buying and selling platform.
However, the value was sharply diminished by the customer final summer time amid intense stress on cryptocurrency valuations, earlier than the deal was ultimately deserted final month.
Mark Hipperson, Ziglu’s founder, left the corporate at across the identical time.
Ziglu didn’t reply to a collection of requests for remark.
Source: information.sky.com”